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POST MARKET
The equity benchmark indices Sensex and Nifty traded higher on Wednesday, rebounding from early losses, supported by foreign fund inflows, easing volatility, and buying in IT stocks.
At close, the Sensex was up 63.57 points or 0.08 percent at 82,634.48, and the Nifty was up 16.25 points or 0.06 percent at 25,212.05. About 2234 shares advanced, 1658 shares declined, and 150 shares remained unchanged.
Among sectors, the metal index shed 0.6 percent, while realty, auto, FMCG, IT, PSU Bank, and media indices added 0.5-1.8 percent.
M&M, Wipro, SBI, Nestle India, and Tech Mahindra were among the major gainers on the Nifty, while losers included Shriram Finance, Eternal, Sun Pharma, Tata Steel, and Cipla.
The broader markets were also trading flat, with the small-cap and mid-cap indices eking out minor gains of 0.05 percent each.
STOCKS TODAY
Coffee Day
Coffee Day Enterprises hit a 10 percent upper circuit for a second straight session after veteran investor Dolly Khanna picked up a 1.55 percent stake in the company. Khanna held 32.78 lakh shares in the firm, as per the latest shareholding data available on the Bombay Stock Exchange.
Biocon
Shares of Biocon gained as much as 3% on July 16, after the United States Food & Drug Administration (USFDA) approved Insulin Aspart, which the company brands as Kristy.
ICICI Prudential
ICICI Prudential slipped 3 percent as the company reported a decline in annualised premium equivalent (APE) growth, short-term persistency ratios, and investment income. Brokerages were not impressed by the June quarter results but expressed hope that higher traction in non-linked products could support profitability in the future.
PVR Inox
Multiplex operator PVR INOX Ltd slipped by a percent on Wednesday, July 16, after the Karnataka government proposed a cap on movie ticket prices at Rs 200 each. The rule would be applied across theatres in Karnataka, from single-screen operators to large-scale multiplexes. Further, it would include all entertainment taxes. According to the draft, the public has around 15 days to respond to the proposal. PVR INOX is yet to officially respond.
LT Foods
Shares of LT Foods gained on July 16 after its organic division, Nature Bio Foods (NBF), announced entry into the business-to-consumer (B2C) segment in Europe with a dedicated processing and packaging facility in Rotterdam, Netherlands.
Source – Money Control